PaperPanzer, it depends.
When used as a filler, I've found the white putty to be very tractable to work with, but once cured it is oftentimes much more brittle than the green putty. Used straight from the tube and fully dried, either one can be sanded and shaped easily; neither one polishes to a very high luster as they both retain that gritty character. You have to look out as both types will melt the plastic if you use too much.
I use them mixed very thin with Testor's cement and finely shaved sprue (mix all ingredients to a runny goop, shake or stir often and enjoy!) when gluing stuff together that has either small gaps or seam blemishes. This mix can be polished to a very high luster with no visible seam or gap remaining, more so than using the putties as intended.
hope that helps